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02/11/2010 -
Paymetric recently announced that it has partnered with MBS Textbook Exchange to provide payment card tokenization solutions to college bookstores."The Paymetric tokenization infrastructure was designed to handle massive and growing volumes, a scenario that favors college and university bookstores because of the enormous numbers of transactions they process during peak seasons," said Larry Wine, the president and CEO of Paymetric.
Tokenization eliminates the need to store cardholder data in point-of-sale terminal systems. MBS POS captures credit card data and exchanges it for a surrogate value referred to as a token. Payment processing will then proceed as usual.
Jeffrey Miller, director of systems sales at MBS Textbook Exchange hopes that tokenization will ease PCI DSS compliance for college bookstores that are currently using the MBS POS Electronic Payment Solution system. The EPS solution is in place to reduce credit card processing times and fees and uses a redundant dial to guarantee that transactions go through without user intervention in case the network is interrupted.
MBS Textbook Exchange also launched a mobile POS terminal on a tablet PC that allows users to access MBS applications.
